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Dec 6, 2012
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as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're talking today but still at stalemate. >> yeah, i mean, it's a sign, jessica and dana, of just how lack -- how little progress there's been that a phone call is big news between these two. dana, we're also hearing hints of some move between republicans, cobur
as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the...
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Dec 3, 2012
12/12
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the other thing that we need to understand is that tax rates are going up on january 1 within obama care. so we're talking about almost a trillion dollars of increases in taxes and fees. >> let's not talk about the democrats for a moment. let's not even talk about what the president's put on the table. let's talk about the republicans. give me specific cuts that republicans would be behind. because we're really short on specifics from the gop. lay out for me, here's what we're willing to cut in terms of entitlements. put it on the table. >> look, there's been a plan in terms of indexing the increases. we are going to have to find a way to reduce the gap between how much medicare costs per person and how much we pay. because it's not going to last. it's going to go broke. >> so let me bring in nan for a second, then. forgive me for cutting you off. tick off for me. as you know, one of the biggest criticisms from the dems, the republicans as much as they're flabbergasted and shock and amazed and -- >> of course we are, dosoledad. the simpson/bowles commission 3-1 expenses to taxes. the pla
the other thing that we need to understand is that tax rates are going up on january 1 within obama care. so we're talking about almost a trillion dollars of increases in taxes and fees. >> let's not talk about the democrats for a moment. let's not even talk about what the president's put on the table. let's talk about the republicans. give me specific cuts that republicans would be behind. because we're really short on specifics from the gop. lay out for me, here's what we're willing to...
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Dec 6, 2012
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president obama and john boehner did the gangnam style, your approval ratings might go up. "outfront" tonight, tom mcclintock of the budget committee. thank you for taking the time. we just showed a lot of your colleagues going home on a wednesday night after working a three-day week. obviously, that's an image that frustrates so many americans. why are people going home before getting this done? >> well, unfortunately, we're not using the standard process where the house passes its version, the is that the passes its version, then a conference committee is very good in revolving impasses like this between the two houses. unfortunately, none of that's being used and i think that's one of the reasons why these things are blocking down now so regularly. we've abandoned a process that works very well when we use it. >> john boehner presented a plan to the president and in that plan, he put $800 billion in revenue from the wealthy on the table. he said he would close loopholes and those people would pay more money. you were a member of the tea party caucus and some in your cauc
president obama and john boehner did the gangnam style, your approval ratings might go up. "outfront" tonight, tom mcclintock of the budget committee. thank you for taking the time. we just showed a lot of your colleagues going home on a wednesday night after working a three-day week. obviously, that's an image that frustrates so many americans. why are people going home before getting this done? >> well, unfortunately, we're not using the standard process where the house passes...
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Dec 6, 2012
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president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white house, he's meeting with a middle class family in northern virginia to discuss as they put it the importance of extending the tax cut for the middle class. they have not extended it for the wealthy. this kind of public pressure no surprise to you has not set well with republican lawmakers, republican leaders on the hill and so we are still watching this really stare down between the two sides even though we see republican lawmakers and senators coming out and hinting they could accept a tax rate increase if it is part of a p d broader deal but boehner has strong support among his rank and file and the negotiations come down to speaker boehner and president obama. we wait, watch and listen to see if there are hints of progress. none so far. >> kate bolduan reporting live from washington. >>> in washington state,
president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white house, he's meeting with a middle class family in northern virginia to discuss as they put it the importance of extending the tax cut for the middle class. they have not extended it for the wealthy. this kind of public...
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Dec 1, 2012
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. >>> in raw politics, with the country one day closer to the fiscal cliff, president obama took his case to the public today. he used an event in pennsylvania to rachet up the pressure on republicans to freeze taxes for the middle class while allowing the tax rates on the wealthy to go up. >> if congress does thing, every family in america will see their income taxes automatically go up on january 1st. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> in other words, the day after the white house puts its opening bid on the table, the president comes out swinging. that opening bid didn't have a whole lot of concessions in it to the republicans, and the republicans reacted as many would have predicted. they were mad. basically saying that offer was an insult. today, house speaker john boehner doubled down. >> it was not a serious proposal. and so right now, we're almost nowhere. >> that doesn't sound good. republican congressman lee terry of nebraska was just as succinct but how shall i say this? more colorful. he told the "omaha world herald"
. >>> in raw politics, with the country one day closer to the fiscal cliff, president obama took his case to the public today. he used an event in pennsylvania to rachet up the pressure on republicans to freeze taxes for the middle class while allowing the tax rates on the wealthy to go up. >> if congress does thing, every family in america will see their income taxes automatically go up on january 1st. that's sort of like the lump of coal you get for christmas. that's a scrooge...
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Dec 5, 2012
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president obama often talks about returning to clinton era tax rates. he wants to raise much more revenue from high earners than the clinton era tax code would have raised. and president clinton also dramatically lowered capital gains taxes, and that generally benefited high-earners. so a lot of folks believe that's something that balanced out against the increases on ordinary income. so, you know, that's something that arguably contributed to that surge in technology stocks and much else that created surpluses in the latter half of the clinton presidency. it's a more complicated picture. definitely there are folks who want tax increases but let's not gloss over president obama is talking about way higher taxes than we saw during the clinton era on the high earners. >> that's true. all right. want to talk about a party going on tonight. james, pretty good. there is a party going on, jack kemp foundation is having a party and marco rubio is speaking. paul ryan is speaking. they both want to have complete makeovers. you know -- marco rubio doesn't want to
president obama often talks about returning to clinton era tax rates. he wants to raise much more revenue from high earners than the clinton era tax code would have raised. and president clinton also dramatically lowered capital gains taxes, and that generally benefited high-earners. so a lot of folks believe that's something that balanced out against the increases on ordinary income. so, you know, that's something that arguably contributed to that surge in technology stocks and much else that...
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Dec 6, 2012
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rates. impasse is not an option. means everybody's taxes go up, but if the president has his way, taxes are going to go up on those very wealthy folks making over $200,000, but most are not very wealthy or folks, most are small businesses filing subchapter "s" companies, about 88% of net small business income will be for these taxes when we're depending on them to create two-thirds of the new jobs. boehner's trying to mitigate that mess. i wish him luck. something's going to f to have to give. >> something is going to have to give. from everybody i've talked to and from what we've heard, there two options for the country. one, go over the cliff. the other, extend the bush tax cuts for the 98% of americans. everyone who makes under $200,000 a year if they're single, $250,000 if they're a family. those seem to be the two choices. between those, which do you pick? >> but, if we do that and raise the taxes on those small businesses we were just talking about, according to the congressional budge
rates. impasse is not an option. means everybody's taxes go up, but if the president has his way, taxes are going to go up on those very wealthy folks making over $200,000, but most are not very wealthy or folks, most are small businesses filing subchapter "s" companies, about 88% of net small business income will be for these taxes when we're depending on them to create two-thirds of the new jobs. boehner's trying to mitigate that mess. i wish him luck. something's going to f to have...
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Nov 29, 2012
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a new report says president obama is being flexible with top tax rates as negotiations intensify. will that help republicans agree to a deal? we'll be talking to republican from wyoming senator john barrasso up next. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has tdd#: 1-800-345-2550 a better chance to grow. tdd#: 1-800-345-2550 and you can trade all our etfs online, tdd#: 1-800-345-2550 commission-free, from your schwab account. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 so let's talk about saving money, tdd#: 1-800-345-2
a new report says president obama is being flexible with top tax rates as negotiations intensify. will that help republicans agree to a deal? we'll be talking to republican from wyoming senator john barrasso up next. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest...
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Dec 5, 2012
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both democrats and republicans are willing to close and it's possible that we may be able to lower rates by broadening the base at that point. >> want to get to stephanie cutter former deputy campaign manager for obama 2012. stephanie, nice to have you with us this morning. appreciate your time as always. you're the -- >> thanks for having me. >> that was your old job. the former campaign manager. feels like the campaign is not over. the president has been on the road selling, you know, campaigning on this topic. on monday he didn't have any meetings about the fiscal cliff. on tuesday he was talking to the governors of six states. today, wednesday, he'll be addressing the business roundtable. there are some folks who have said why is he having all these meetings and not just sitting down with john boehner. the two need to get in a room and work this out. why not that? >> well, there are plenty of conversations going on, but soledad, we've been in this place before. unless republicans are willing to come to the table wait real proposal, not what they came to the table with this week, then
both democrats and republicans are willing to close and it's possible that we may be able to lower rates by broadening the base at that point. >> want to get to stephanie cutter former deputy campaign manager for obama 2012. stephanie, nice to have you with us this morning. appreciate your time as always. you're the -- >> thanks for having me. >> that was your old job. the former campaign manager. feels like the campaign is not over. the president has been on the road selling,...
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Dec 5, 2012
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president obama, you know the deal, he wants to raise tax rates for the wealthy. house speaker john boehner wants to close tax loopholes, limit deductions for the wealthy. let's stay on the hill here, let's talk to senior congressional correspondent dana bash. we know the speaker -- we know speaker boehner met with conservative republicans today. did he get any backlash today from his plan? >> reporter: you know what, interestingly it doesn't seem like he did. we know that conservatives are not happy with the idea that their own house republican leadership proposed a plan that includes $800 billion in new revenue. we have seen -- reported on it extensively yesterday and the day before about the e-mail alerts that conservative groups have put out, republican senator jim demint was up-front about the fact he's not happy about it. however, when it comes to speaker boehner's own republican conference, as it is called, we're told they met for an hour and there wasn't backlash, that they were united behind him. it seems as though, brooke, that the speaker has, for now,
president obama, you know the deal, he wants to raise tax rates for the wealthy. house speaker john boehner wants to close tax loopholes, limit deductions for the wealthy. let's stay on the hill here, let's talk to senior congressional correspondent dana bash. we know the speaker -- we know speaker boehner met with conservative republicans today. did he get any backlash today from his plan? >> reporter: you know what, interestingly it doesn't seem like he did. we know that conservatives...
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Dec 5, 2012
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they still have a stand off over the rates. the president still wants to raise rates on the top 2% of americans. the speaker is not moving on that position. this comes on the same day that secretary geithner made it clear in language they have not used before, just how far they're willing to go in the administration to stand by those terms. >> is the administration prepared today go over the fiscal cliff? >> absolutely. there is no agreement without those rates going up on the top 2%. and they all get a tax cut on the first $250,000 of their income. >> reporter: so wolf, it's a step forward that they're talking, but in essence, where we stand right now, it's still a stalemate. >> any indication that the vice president, secretary of treasury, others are talking with top people on capitol hill? meeting face to face and going through these items line by line? >> reporter: my understanding is that the white house is not going to start negotiating the details until they hear either more specifics from republicans on the rest of thei
they still have a stand off over the rates. the president still wants to raise rates on the top 2% of americans. the speaker is not moving on that position. this comes on the same day that secretary geithner made it clear in language they have not used before, just how far they're willing to go in the administration to stand by those terms. >> is the administration prepared today go over the fiscal cliff? >> absolutely. there is no agreement without those rates going up on the top...
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Dec 4, 2012
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to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> let's talk about the fiscal cliff and more with congresswoman debbie wasserman schultz of floor, chair of the democratic national committee. and the president has nominated you for another term. let's talk about the fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way mathematically, if you look at the republican's proposal, that you can get to the deficit reduction that we need to with preserving the middle class tax cuts by not increasing as the republicans refuse to do the upper tier rates. there's
to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> let's talk about the fiscal cliff and more with congresswoman debbie wasserman schultz of floor, chair of the democratic national committee. and the president has nominated you for another term. let's talk about the fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as...
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Nov 30, 2012
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, will republicans agree to raising tax rates on the wealthy as president obama made clear. are you willing to go over the fiscal cliff if republicans do not agree that that? >> i think if there is no agreement whatsoever, the president has probably no choice but to say, okay, we're going to go over the cliff. that would no be my first preference. my first preference is that as we get closer to the cliff, that we find an agreement that makes some sense, so we don't have to go over it. if we don't go over,'re entering very unchartered waters. who knows how the markets will react, what will happen -- i hope we don't have to go over. >> and it could hit almost every single american, which is why when people are watching this, they're so frustrated they can't do what the american people want them to do. so are you telling me that congress needs a deadline and likes to go up to the deadline, is it posturing? >> no, the world is run by deadlines, you know, it's human nature not to do when you know what you should until you get closer to that deadline. it would be better if we work
, will republicans agree to raising tax rates on the wealthy as president obama made clear. are you willing to go over the fiscal cliff if republicans do not agree that that? >> i think if there is no agreement whatsoever, the president has probably no choice but to say, okay, we're going to go over the cliff. that would no be my first preference. my first preference is that as we get closer to the cliff, that we find an agreement that makes some sense, so we don't have to go over it. if...
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Dec 3, 2012
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their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount. starts 2 s at $251,000. it is on the money you make on the margin. now, while i totally agree every penny counts when it comes to your money, when you compare that to the taxes most americans paid out in past decades, when there was phenomenal economic growth, i don't get why republicans are screaming bloody murder about this 3.6%. what if we were all to chip in a little more. we need taxes, we need government programs, particularly the ones that use the scale and scope of government to get better deals and greater efficiency than the private enterprise can achieve. now, despite what you're being told, taxes as they stand are not an impediment to our long-term economic growth. not getting a grip on government spending will be an impediment. the solution can be found by looking for smartly targeted spending cuts in conjunction with
their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount. starts 2 s at $251,000. it is on the money you make on the margin. now, while i totally agree every penny counts when it comes to your money, when you compare that to the taxes most americans paid out in past decades, when there was phenomenal economic growth, i don't get why republicans...
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Nov 29, 2012
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how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with james clyburn, representative clyburn last hour, about the notion of raising tax rates on the wealthy and not where the president wants them. he said i want it higher. take a listen and then talk about it. >> we know where the president is. and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000. some say even a million. all of that's going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he'll do that but the president stands at 250. which is below even where i was but he won the election. >> do you think that's where the compromise is, have it at a higher rate, somewhere in there? >> i think what needs to happen is for the democrats to come forward with ideas for expenditures. because if not, what he's asking for is for speaker boehner to negotiate
how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with james clyburn, representative clyburn last hour, about the notion of raising tax rates on the wealthy and not where the president wants them. he said i want it higher. take a listen and then talk about it. >> we know where the president is. and that is 250,000. but there are a lot of...
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Nov 29, 2012
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election, president barack obama and mitt romney will meet face to face. the two candidates will have lunch at the white house in a few hours. before lunch, he will meet with his former running mate congressman paul ryan. >>> if you're wondering what's on that lunch menu, how about a healthy dose of humble pie for two politicians who dished out and received some pretty good beatdowns over the last several months? joining me now, cnn political analyst, roland martin, who leans left. go ahead, lean left. >> and cnn contributor will cain. >> a circle. >> you kill me. everyone knows it's political theater. americans aren't stupid. why put us through this, will? >> i think it's symbolically healthy. first of all, president obama said he wanted to do it. fulfilling that promise has value. i think to show the american people that politics is politics and people are people and there are things we can come together over, like food. hey, by the way, roland martin and i, who agree on very little -- and i don't even really like the guy -- had breakfast yesterday toget
election, president barack obama and mitt romney will meet face to face. the two candidates will have lunch at the white house in a few hours. before lunch, he will meet with his former running mate congressman paul ryan. >>> if you're wondering what's on that lunch menu, how about a healthy dose of humble pie for two politicians who dished out and received some pretty good beatdowns over the last several months? joining me now, cnn political analyst, roland martin, who leans left. go...
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Nov 29, 2012
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obama won. the american people are very clear. that at a time when the middle class is disappearing and the people on top are doing phenomenally well and as warren buffett mind us, their effective tax rate is quite low. the wealthy are going to have to start paying their fair share of taxes. and i am happy to report to you what you already know. is that more and more republicans are catching on to that fact. >> but the republicans did maintain a significant majority in the house of representatives and it takes two to tango. >> absolutely. but i think the republicans are also good politicians. they have seen the polls, they have seen the election results and more and more republicans have been saying, you know what, we're going to have to ask our wealthy friends to start paying their fair share of taxes and do what we did in the senate, which is protect the bottom idea. >> but you're not open to any cuts in entitlement spending? >> well, first of all, social security, as most americans know -- >> what about medicare and medicaid? >
obama won. the american people are very clear. that at a time when the middle class is disappearing and the people on top are doing phenomenally well and as warren buffett mind us, their effective tax rate is quite low. the wealthy are going to have to start paying their fair share of taxes. and i am happy to report to you what you already know. is that more and more republicans are catching on to that fact. >> but the republicans did maintain a significant majority in the house of...
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>> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to compromise as far as taxes are concerned? >> how we go about tax reform, there's a lot of room to work together to lower the rates. >> give me an example? >> i'm not sure where the democrats are because they have not offered a plan. >> their plan is to keep the b
>> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have...